8.18, Technical Analysis of Bitcoin Morning Market.

In the last two days, the market has overall shown a tendency to fluctuate. Over the weekend, there was a slight recovery, with the highest price reaching 118500. This position was mentioned earlier as a resistance level, and after testing it, there was a small pullback immediately. We are still holding the short position at 117700, maintaining a positive outlook on the trend structure for a pullback. Today's overall strategy remains to take high short positions.

From the four-hour technical structure, the price channel continues to show slight downward fluctuations. The short selling volume is limited in its release, showing a slow staircase-like decline. The moving averages are slowly trending downward, and within the smaller time frames, the market continues to maintain a downward fluctuation for bottoming adjustments.

The smaller time frame shape remains under pressure, with continued downward fluctuations. The rebound performance is weak, making it difficult to stabilize at high levels. A further decline is likely and the bottoming process will still take time and require further momentum.

Personal trading advice for Bitcoin: Enter around 117600 directly, targeting a drop to 115000-112000. #BitDigital转型 #美联储取消创新活动监管计划 #美国7月PPI年率高于预期 #中国投资者涌向印尼 #币安钱包TGE $BTC